by William Teach | January 1, 2018 7:42 am
Democrats have lots of ideas: none of them really seem to revolve around lowering the tax rate for their citizens, nor anything else that has caused these Blue states, like NJ and NY, to lose residents, leading to a loss of federal Representatives
Democrats in High-Tax States Plot to Blunt Impact of New Tax Law
Democrats in high-cost, high-tax states are plotting ways to do what their states’ representatives in Congress could not: blunt the impact of the newly passed Republican tax overhaul.
Governors and legislative leaders in New York, California and other states are considering legal challenges to elements of the law that they say unfairly single out parts of the country. They are looking at ways of raising revenue that aren’t penalized by the new law. And they are considering changing their state tax codes to allow residents to take advantage of other federal tax breaks — in effect, restoring deductions that the tax law scaled back.
One proposal would replace state income taxes, which are no longer fully deductible under the new law, with payroll taxes on employers, which are deductible. Another idea would be to allow residents to replace their state income tax payments with tax-deductible charitable contributions to their state governments.
That last one is a doozy … and discussed way more in the article … since Democrats have been informed time ad nauseum that they are able to write checks to the IRS, since they love high taxes so much, yet, they don’t. So, that “charitable contribution” would be mandatory.
State leaders are still figuring out their response to the new law, and few have yet endorsed specific proposals. But they are moving quickly. Gov. Andrew M. Cuomo of New York, a Democrat, recently said he expected to provide a more detailed plan when he presented his state budget in mid-January.
“They want to target us for certain provisions?” Mr. Cuomo asked at a recent news conference. “Well, let’s see if we can redesign our tax code to get out of the federal trap that they set.”
Suddenly, Democrats realize that perhaps Washington having so much darned power is not a good thing. Suddenly, they realize that Los Federales picking winners and losers is not a good thing. But, what they do not seem to realize is that they can, get this, lower their state tax rates. They can do things to reduce the tax burden on citizens, and do things which can reduce the overall cost of living. Lowering the tax rate isn’t even considered in this article. Surprise?
Crossed at Pirate’s Cove. Follow me on Twitter @WilliamTeach.
Source URL: https://rightwingnews.com/democrats/high-tax-democrat-states-looking-ways-blunt-tax-law-something/
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